The Public Offer by Cyprus Trading Corporation Ltd. and F.W. Woolworth & Co. (Cyprus) Ltd. for acquisition of the titles of Olympos Investments Ltd. was successful as shareholders with over 90% of the shares accepted the Offer. CTC and Woolworth now hold 91% of the total share capital of Olympos Investments Ltd.
1. As a result, CTC and Woolworth have forwarded the new CTC and Woolworth titles to beneficiaries as well as the cheques for the acquisition of warrants which make up to exchange for acquisition of the capital of Olympos.
2. According to the Public Offer Document, CTC and Woolworth intend, after securing 90%, to acquire the remainder of titles of Olympos based on article 201 of the Companies Law. Therefore a relevant notice will be forwarded to title holders who have not responded.
3. As a result of the above and following a decision of the CSE of the 8 January 2001, titles of Olympos Investments Ltd. will be suspended from trading as of Tuesday 9 January 2001 in accordance with article 30(1) of CSE Regulations.
4. Concerning the new titles of CTC and Woolworth issued and forwarded, relevant application has been made to the CSE in accordance with listing and trading regulations of the CSE.
5. Following the new developments, Olympos Investments Ltd. remains a public company but not listed on the CSE, controlled fully by CTC and Woolworth.
The Chairmen and members of the Boards of Olympos Investments Ltd., CTC Ltd. and F.W. Woolworth & Co. (Cyprus) Ltd., expressed their thanks to their shareholders for the cooperation, trust and support at all stages, from the announcement of the Public Offer through to its acceptance. Also to the CSE Council and the Securities & Exchange Commission for the smooth completion of the necessary processes and for their effective cooperation.
1. As a result, CTC and Woolworth have forwarded the new CTC and Woolworth titles to beneficiaries as well as the cheques for the acquisition of warrants which make up to exchange for acquisition of the capital of Olympos.
2. According to the Public Offer Document, CTC and Woolworth intend, after securing 90%, to acquire the remainder of titles of Olympos based on article 201 of the Companies Law. Therefore a relevant notice will be forwarded to title holders who have not responded.
3. As a result of the above and following a decision of the CSE of the 8 January 2001, titles of Olympos Investments Ltd. will be suspended from trading as of Tuesday 9 January 2001 in accordance with article 30(1) of CSE Regulations.
4. Concerning the new titles of CTC and Woolworth issued and forwarded, relevant application has been made to the CSE in accordance with listing and trading regulations of the CSE.
5. Following the new developments, Olympos Investments Ltd. remains a public company but not listed on the CSE, controlled fully by CTC and Woolworth.
The Chairmen and members of the Boards of Olympos Investments Ltd., CTC Ltd. and F.W. Woolworth & Co. (Cyprus) Ltd., expressed their thanks to their shareholders for the cooperation, trust and support at all stages, from the announcement of the Public Offer through to its acceptance. Also to the CSE Council and the Securities & Exchange Commission for the smooth completion of the necessary processes and for their effective cooperation.
Friday, 12 January, 2001 - 00:00